India’s Jindal Steel and Power Limited (JSPL) has firmed up plans for capital expenditure of $1.22 billion to construct a 3 million mt per year capacity greenfield steel mill project in the southern state of Andhra Pradesh, a company official said on Monday, March 6.
The official said that a memorandum of understanding (MoU) on the project will shortly be signed with the Andhra Pradesh government.
The steel mill project will be part of the company’s investment in the state, which includes setting up a port and constructing a slurry pipeline and an industrial park for micro, small and medium-scale enterprises (MSME), the official said.